Question
Which of the following best describes "Ind-AS" in
accounting?Solution
Ind-AS stands for Indian Accounting Standards and is a set of accounting standards that are based on the International Financial Reporting Standards (IFRS). These standards have been adopted by the Ministry of Corporate Affairs in India and are mandatory for certain classes of companies, including listed companies, banks, and insurance companies, for the preparation of their financial statements.
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Lala has lent Rs. 30,000 to Murali and Bansi at 7% p.a. and at 11% per annum respectively. At the end of the year, he has gained an overall interest at...
A container contains 40 liters of a mixture of milk and water in the ratio 3:1. How much water should be added to make the ratio 3:2?
